John Paul Gaultier (left) is collaborating with Target on a fashion range. Photo: Guillaume de Sardes

Brian Walker, CEO of the Retail Doctor Group, said collaborations best work on a limited season.

"Really, it's a marketing event. Then coming out of it just as quickly," he said.

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But he also warned collaborations can misfire, if they feature the wrong talent or product. "When it starts to go off centre is when it gets too morphed and too spread into the broader department store offer.

"The more they integrate it with the overall business then they potentially weaken the impact.

Madonna's famous corset and a photo of the singer with Jean Paul Gaultier at the National Gallery of Victoria exhibition in 2015. Photo: Penny Stephens

"The things that are great [about Gaultier] is the way he understands popular culture, the way he interacts that with his creations, his design aesthetic ... he has been in business over 40 years and is still showing couture in Paris."

Gaultier was due to attend the Melbourne Fashion Festival for a special parade on Wednesday night to launch the collection but he had to withdraw at late notice due to illness.

"It's a flare up of a condition he has and it wears him down for four to six weeks every few years," but did not detail the nature of the condition.

"As long as he's well that's the most important thing."

The high-low collaboration has become a retail fixture in recent years, with H&M recently pairing with French fashion house Balmain, to create a range including a more wallet-friendly version of its signature blazers.

Target has had mixed success with its collaborations, with the Stella McCartney collection a much bigger hit than its pairing with Dannii Minogue.

The key to choosing the right collaborator is finding a brand that will create some "disruption" – particularly strong social media presence – but still fit within the store's overarching philosophy.

"They need to be someone who Australians will understand, have been inspired by in the past or be inspired by in the future, something that is exciting, something that is not overly complicated or elitist. It needs to be someone who has a personality behind them or a DNA that is super strong and resonates and is current," Mr Pecora said.

After the hugely successful National Gallery of Victoria exhibition The Fashion World of Jean Paul Gaultier – more than 220,000 people attended over four months – Target believed Gaultier was a good match for the brand, despite his rebellious reputation.

"He's not there just to push buttons, he's there to create incredible things and that exhibition made it clear in a couple of rooms what he's been able to create over 40 years," Mr Pecora said.

The Jean Paul Gaultier for Target range will be shown at VAMFF on Wednesday night. It goes on sale on Thursday online and in selected stores from 8am. vamff.com.au.